If the Standard Quantity Allowed for Direct Materials Is Greater

question 79

True/False

If the standard quantity allowed for direct materials is greater than the actual quantity used, the quantity variance is unfavorable.

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Definitions:

Simple Interest

Interest calculated only on the principal amount, or the initial amount of money borrowed or invested, without compounding.

GICs

A financial vehicle in Canada, Guaranteed Investment Certificates offer investors a set return rate over a defined period.

Simple Interest

Interest calculated on the principal or original amount of a loan or investment, without compounding.

GICs

Guaranteed Investment Certificates (GICs) are Canadian investment vehicles offering a guaranteed rate of return over a fixed period of time.